Eurniture costing $60,500 is sold at its book value in 2021 . Acquisitions of furniture total $48,800 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of urniture. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Furniture } \\ \hline Beginning balance & 70,500 & \\ \hline & & \\ \hline Sale of assets & 328,400 & \\ \hline & & \\ \hline Ending balance & 398,900 & \\ \hline \multicolumn{3}{|c|}{ Accumulated Depreciation } \\ \hline Beginning balance & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Ending balance & 0 & \\ \hline Cost & & \\ \hline Accumulated depreciation & & \\ \hline Book value (Cash received) & & $ \\ \hline \end{tabular} e company's net income for the current year ended December 31 was $61,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year